WSJ Reports that MERS CEO is Stepping Down

The Wall Street Journal reports:

The chief executive of the privately-held Mortgage Electronic Registration Systems, or MERS, is planning to leave the company and an announcement of his departure could come within days, according to people familiar with the matter.

R.K. Arnold has served as President and CEO of Merscorp, Inc. (the parent company of MERS) since 1998. As the company’s practices receive increasing scrutiny from courts and state and federal regulators and lawmakers, it appears that a change is in the works. What that change means for the future of MERS and the way the company conducts its business remains to be seen.